| The Royal Decree issued by His Majesty Sultan Qaboos authorising use of Shari’a compliant means of finance has provided a unique opportunity to the financial services sector and people of Oman at large. Islamic Finance is practiced in many jurisdictions and a closer look at country experiences reveals that countries with a robust Islamic ecosystem (an appropriate framework to provide a level playing field to Islamic finance from a legal, regulatory, prudential supervision, accounting and tax perspective) have been more successful in this space.
While Oman is new to Islamic finance, it can benefit from experiences of other jurisdictions.............................................Full Article: Source
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